Lake Travis Topics: I'm Confused

Lake Travis Topics: I'm Confused - Help Me Out

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	Name:	Maverick -
	Subject:	I'm Confused - Help Me Out
	Date:	10/27/2007 9:12:25 AM

OK assume the following:

Assume 5,000 lake homes in Tallapoosa County and do not think this is far off. (Tallapoosa County covers from Alex City to Dam and then back around to Oakachoy Creek, if I am not mistaken)

Now assume in 2005 each lake home on average paid $1,000 in Ad Valorem taxes. (Keyword here is on average)

So (5,000 x $1,000 = $5,000,000 in Ad Valorem tax revenue collected in 2005.

Most folks lake property taxes went up by approx 60% in 2006 so tax base collection increased to $8,000,000 or an additional $3,000,000 in in tax revenue for 2006 and 2007.

Additionally all the new construction in 2006 and 2007, along with late 2005 would have further added to the county's Ad Valorem tax revenue. Plus all the above assumptions do not include an increase in the tax base for off lake developments and property tax increases, etc.

SO WHERE DID ALL THE MONEY GO !!!! - Taxes base increased by around an estimated $3,000,000 annually and the county still needs to borrow money. I have not seen any major improvements in the roads, infrastructure, etc. Am I missing something here ???

I would love to see line item Statements of Revenue, Expenditures and Changes in Fund Balances for the past 5 years to see where all the taxpayer's money was spent as this bond issue does not make a lot of sense based upon a 60% increase in the tax base over the past 2 years.

Must my 2 cents. As something smells fishy here. Wonder if the county has ever been audited by an outside independent accounting firm or governmental agency???